Israel: Manufacturing PMI drops in June
July 15, 2021
The Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the Israeli Purchasing & Logistics Managers Association (IPLMA), fell from 56.1 in May to 51.5 in June. Consequently, the index remained above the 50-threshold, signaling an improvement in business conditions from the previous month.
June’s reading was driven by a sharp deterioration in export orders, potentially linked to supply chain disruptions and higher transport costs. Local orders also lost steam amid an uptick in domestic Covid-19 cases.
Author: Oliver Reynolds, Economist